AC309 Individual Income Tax

for F2HH 2008

Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Course Description: A study of the current Federal Income Tax law with emphasis on its application to individuals as part of a cooperative effort with the Internal Revenue Service. Prerequisite: AC201 and CS140. 3:0:3

Educational Philosophy:

The instructor's educational philosophy is one of interactiveness based on lectures, readings, quizzes, cases, dialogues, & examinations. The instructor will engage each learner to encourage the exploration of ideas, issues and contradictions

Learning Outcomes:Core Learning Outcomes

Prepare Federal, state and city income tax returns for clients.

Treat clients in a respectful and professional manner.

Prepare working papers and schedules to support income tax returns.

Use computer software to plan and report tax information.

Organize and compile client-prepared data.

Pass a written comprehensive examination on individual income tax law.

Core Assessment:The test examines each learning outcome with 20 questions. Eighteen multiple-choice questions will be based upon a distribution of critical thinking concepts applied to a learning outcome. Two questions will examine a communication/writing component. Each question will be weighted as 5 points.

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business and Management.

Late Submission of Course Materials: Students are expected to turn in assignments and take examinations on the date scheduled or due. Late submissions of work or make-up exams will not be accepted unless prior arrangements are made with the instructor.

Classroom Rules of Conduct: Faculty members are expected to dismiss from their classrooms students whose behavior is detrimental to good order in the classroom. Such behavior includes, but is not limited to, the use of abusive or obscene language, attending the class under influence of drugs or alcohol, etc. Students who are dismissed from class may be given failing grades, suspension, or expulsion from Park University. Students whose behavior, either verbal or written, is detrimental to the good order of Park University may be subject to disciplinary action ranging from suspension to expulsion from Park University. Students who exhibit abusive or obscene language or behavior toward administrative personnel or support staff are also subject to suspension or expulsion from Park University.

Course Topic/Dates/Assignments:

Class/Week

Topic

Reading

Assignments

1

The Individual Income Tax Return
Gross Income & Exclusions,

Chapter 1
Chapter 2

Assign Groups
TBD

2

Business Expenses & Retirement Plans

Chapter 3

TBD

3

Self-Employed & Employee Expenses

Chapter 4

TBD

4

Exam
Itemized Deductions & Other Incentives

Chapters 1-4
Chapter 5

TBD

5

Credits & Special Taxes
Accounting Periods & Methods & Depreciation

Chapter 6
Chapter 7

TBD
TBD

6

Capital Gains & Losses

Chapter 8

TBD

7

Exam
Withholding, Estimated Payments, & Payroll Taxes

Chapters 5-8
Chapter 9

TBD

8

Group Projects Due
Term Papers Due
Partnership Taxation
The Corporate Income Tax
Tax Administration & Tax Planning

Chapter 10
Chapter 11
Chapter 12

TBD
TBD
TBD

9

Final Exam

Academic Honesty:Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University 2008-2009 Undergraduate Catalog Page 87

Plagiarism:Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2008-2009 Undergraduate Catalog Page 87

The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.

Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.

In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".

A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.

Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.

Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Disability Guidelines:Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .

Additional Information:

1. Instructor reserves the right to change weekly assignments and grading criteria based on the Instructor's assessment of the class. Any changes will be announced in class.

2. Email is the most efficient way to contact the instructor with questions about the material covered. Students should document their question(s) as best as they can and leave a contact phone number. All questions to the instructor will be addressed within 24 hrs.

Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
100-80 %

Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
60-79%

Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
50-59%

Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
Less than 50%

Synthesize data to produce a logical flow of informational reporting per established accounting rules and standards,Synthesis Outcomes2,3,4,5,6,

Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
100-80 %
,

Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
60-79%
,

Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
50-59%
,

Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
Less than 50%
,

Analysis,Analysis of transactional data Outcomes,2,3,4,5,6

,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
100-80 %

,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
60-79%

,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
50-59%

,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
Less than 50%

Application of established rules and logic per regulatory and commercial standards,Evaluation Outcomes1,

Demonstrate and interpret financial data for preparing
individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
100-80 %
,

Demonstrate and interpret financial data for preparing individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
60-79%
,

Demonstrate and interpret financial data for preparing individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
50-59%
,

Demonstrate and interpret financial data for preparing individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
Less than 50%
,

Terminology,Content of Communication written essay Outcomes,1

,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to
preparing individual income tax returns
Question 20
100-80 %

,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing individual income tax returns
Question 20
60-79%

,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing individual income tax returns
Question 20
50-59%

,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing individual income tax returns
Question 20
Less than 50%

,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
100-80 %

,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
60-79%

,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
50-59%

,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
Less than 50%

Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
100-80 %
,

Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
60-79%
,

Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
50-59%
,

Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
Less than 50%
,

Component Outcomes

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